Virtual Office Website - Regulation

Regulation

Certain rules apply to the real estate companies ability to display each detail about a property, these "display rules" are set by the Multiple Listing Service which generally forms policy around the recommendations of the National Association of REALTORS.

The National Association of Realtors, which created the VOW policy, is under an ongoing antitrust investigation by the U.S. Department of Justice, which deemed the VOW policy as anti-competitive.

As of early 2006, the VOW policy has been replaced by a new Internet Listing Display policy created by the National Association of Realtors.

On May 27, 2008, NAR and the U.S. Department of Justice reached a favorable settlement, concluding a two-year DOJ investigation (followed by two and a half years of litigation) regarding NAR's multiple listing policy as it pertained to the display of listings from the MLS on brokers' virtual office Web sites, or VOWs.


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Famous quotes containing the word regulation:

    Lots of white people think black people are stupid. They are stupid themselves for thinking so, but regulation will not make them smarter.
    Stephen Carter (b. 1954)

    Nothing can be more real, or concern us more, than our own sentiments of pleasure and uneasiness; and if these be favourable to virtue and unfavourable to vice, no more can be requisite to the regulation of our conduct and behavior.
    David Hume (1711–1776)

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    Margarethe Cammermeyer (b. 1942)